Financial exploitation is one of the fastest-growing forms of abuse in Maryland, especially among older adults and vulnerable individuals. To address this growing threat, Maryland enacted the SAFE Act (Statute Against Financial Exploitation) to strengthen protections, increase reporting requirements, and hold bad actors accountable.

If you suspect financial abuse, are involved in a dispute over guardianship or power of attorney, or need help protecting a loved one’s assets, speaking with an experienced Maryland attorney is critical. At Blackford Law, we help families navigate complex financial exploitation cases with urgency and discretion. Read on to learn more.

What Is the Maryland SAFE Act?

The Maryland SAFE Act was enacted to combat financial exploitation of vulnerable adults by:

• Expanding mandatory reporting requirements
• Allowing financial institutions to delay suspicious transactions
• Increasing cooperation between banks and law enforcement
• Providing stronger civil and criminal remedies

The statute is designed to protect “vulnerable adults,” including elderly individuals and adults with cognitive impairments, disabilities, or diminished capacity.

Financial exploitation can include:

• Unauthorized withdrawals or transfers
• Abuse of power of attorney
• Coercion to change wills or beneficiary designations
• Investment scams
• Undue influence in estate planning
• Theft by caregivers or family members

If you are searching for a Maryland financial exploitation lawyer or elder financial abuse attorney in Maryland, you are likely dealing with a stressful and time-sensitive situation. The SAFE Act exists to stop exploitation before irreversible harm occurs.

Who Does the SAFE Act Protect?

The Act protects “vulnerable adults,” which may include:

• Seniors experiencing cognitive decline
• Adults with developmental disabilities
• Individuals with mental health conditions
• Adults who rely on caregivers for daily living

Importantly, the law applies even if the victim has not yet been declared legally incapacitated. If someone is being pressured, manipulated, or deceived into financial decisions, legal action may be appropriate. If you suspect abuse of a power of attorney in Maryland or undue influence in estate matters, you should speak with a Maryland elder law attorney immediately.

How the SAFE Act Empowers Financial Institutions

One of the most important features of the SAFE Act is that it allows banks and financial institutions to temporarily delay suspicious transactions when they suspect financial exploitation.

For example, if a caregiver attempts to withdraw large sums from an elderly client’s account, the bank may place a temporary hold on the transaction, report the suspected exploitation, and cooperate with adult protective services or law enforcement. This pause creates time for investigation and legal intervention.

If you are facing a frozen account due to an exploitation investigation or you believe a bank failed to act when it should have, a Maryland attorney can evaluate your options.

Common Types of Financial Exploitation Cases in Maryland

Financial exploitation often overlaps with probate disputes, guardianship litigation, and trust administration conflicts. At Blackford Law, we frequently see cases involving:

1. Abuse of Power of Attorney

A trusted family member may misuse authority granted under a power of attorney to:

• Transfer property
• Change beneficiary designations
• Drain accounts
• Make gifts to themselves

If you need to contest power of attorney abuse in Maryland, legal intervention may stop further losses.

2. Undue Influence in Estate Planning

Undue influence occurs when someone pressures or manipulates a vulnerable adult to change a will or trust. Warning signs include sudden changes to estate documents, isolation from long-standing family members, or a new “close friend” gaining control of finances. A Maryland probate litigation attorney can investigate suspicious changes and file legal challenges if necessary.

3. Caregiver Theft

Caregivers sometimes gain access to credit cards, online banking, or checkbooks. Even small, repeated withdrawals can devastate savings over time. If you suspect caregiver financial abuse in Maryland, immediate action is crucial.

4. Investment and Romance Scams

Online scams disproportionately target elderly individuals. According to the FBI’s Internet Crime Complaint Center (IC3) 2023 Report, adults over the age of 60 reported more than $3.4 billion in losses to online scams in a single year, with investment fraud and romance scams among the most financially devastating categories.

Victims may send large sums under false pretenses, sometimes liquidating retirement accounts, transferring funds overseas, or wiring money to individuals they believe they trust. In many cases, the exploitation continues for months before family members become aware of the financial damage.

An experienced Maryland attorney can work with law enforcement and financial institutions to attempt recovery, seek asset freezes when possible, and evaluate civil claims against responsible parties.

Civil vs. Criminal Remedies Under Maryland Law

Financial exploitation can result in:

• Criminal prosecution
• Civil lawsuits for damages
• Removal of fiduciaries
• Guardianship proceedings
• Trust and estate litigation

Families often need both protective action and financial recovery. A Maryland financial abuse attorney can evaluate whether to file a petition in court, seek emergency guardianship, request injunctive relief and pursue restitution

When Should You Contact a Maryland Attorney?

You should speak with a lawyer immediately if:

• Large withdrawals or transfers have occurred unexpectedly
• A vulnerable adult is being isolated from family
• Estate planning documents were changed suddenly
• A caregiver controls all communication
• A bank has frozen an account due to suspected exploitation

Time matters. Financial exploitation cases often involve rapidly disappearing assets.

An experienced Maryland elder law attorney can help freeze suspicious transfers, petition the court for emergency relief, and remove an abusive agent under power of attorney.

How Blackford Law Helps Maryland Families

At Blackford Law, we represent clients throughout Maryland in complex financial exploitation matters, including probate and estate litigation, guardianship disputes, trust litigation, and power of attorney challenges. We understand that these cases are emotionally charged and often involve family conflict. Our approach is strategic, thorough, and focused on protecting vulnerable individuals while preserving assets whenever possible.

Whether you need a Maryland probate litigation attorney, a guardianship lawyer, or representation in a financial exploitation dispute, our team is prepared to act quickly.

Frequently Asked Questions About Financial Exploitation in Maryland

Is financial exploitation a crime in Maryland?

Yes. Depending on the facts, financial exploitation may result in criminal charges under Maryland law. However, criminal proceedings do not always recover lost funds, which is why civil action may also be necessary.

Can I sue someone for elder financial abuse in Maryland?

Yes. Victims or their representatives may file civil lawsuits to recover damages and seek equitable relief.

What if my sibling is misusing a power of attorney?

You may petition the court to remove the agent and request an accounting. A Maryland power of attorney dispute attorney can guide you through the process.

What if a bank allowed suspicious withdrawals?

Financial institutions have reporting and delay authority under the SAFE Act. An attorney can evaluate whether proper procedures were followed.

Protecting Your Family’s Financial Security

Financial exploitation cases are complex and require swift, decisive legal action. Whether you suspect elder financial abuse, need to challenge suspicious estate changes, or are facing a guardianship dispute in Maryland, experienced legal counsel can make the difference.

Contact Blackford Law today to schedule a confidential consultation and protect your loved one’s financial future.